Global e-commerce sales went up to estimated $29 trillion in 2017 – UNCTAD

The Internet, developments in mobile technology and apps have been facilitating online trade, also referred to as e-commerce. New data released last week by the United Nations Conference on Trade and Development (UNCTAD) says global e-commerce has grown in 2017 reaching an estimated $29 trillion.

According to UNCTAD a similar surge in the number of online shoppers was seen. It said the number of online shoppers was 12 per cent and stood at 1.3 billion people, or one quarter of the world’s population

Though, it notes that most internet buyers purchased goods and services from domestic vendors, the share of those buying from abroad rose from 15 per cent in 2015 to 21 per cent in 2017. The growth was driven mainly by an increase in the United States, it added.

It shows also that as a result, cross-border business-to-consumer (B2C) sales reached an estimated $412 billion, accounting for almost 11 per cent of total B2C e-commerce ­­– a 4 per cent hike on the previous year’s numbers.

“The new figures show that e-commerce is indeed creating export opportunities,” Mukhisa Kituyi, the UNCTAD Secretary-General was quoted as saying in a press release copied to ghanabusinessnews.com.

By Emmanuel K. Dogbevi
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